Again, it depends on your definition of a walker..
Someone who has no choice and cannot afford to pay or refi is a REALLY FB…not a walker to me.
A walker to me is someone who CAN pay, but chooses not to, after 6-7 months+ of no payments… I think that is going to increase dramatically…
Obviously, there’s no shortage of REALLY FB’s today.
As DaC says,, it’s simply a question of DEAL or NO DEAL.
Once the govt starts bailing out the IRresponsible, the riots will start from the responsible until they get bailed out too…it’s either that or the responsible will quickly become IRresponsible to save $100K-$200K of net worth.
Plenty of people with 700-800 credit scores would toss their score in the ring to save $100K +++…
Credit scores can be rebuilt alot faster than saving 6 figures++ of after tax cash for vast majority of people.
